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Health Insurance

Health insurance is a type of coverage that helps you manage the cost of medical expenses and healthcare services. When you have health insurance, the insurance company pays a part or the entire amount of your medical bills, depending on the terms of the policy. This financial protection ensures that you can access necessary medical treatments without having to bear the full financial burden. Health insurance plans can cover a range of healthcare services, including doctor visits, hospital stays, surgeries, medications, and preventive care, depending on the specific plan you choose.

Types of Health Insurance:-

  • A. Indemnity Plan : - An indemnity health insurance plan, also known as a fee-for-service plan, gives you the freedom to choose your healthcare providers and services. You pay for medical expenses upfront and then submit a claim to the insurance company for reimbursement based on the plan's coverage limits. This plan offers flexibility but requires managing paperwork and higher out-of-pocket costs.
  • B. Fixed Benefit Plan : - A fixed benefit health insurance plan provides specific pre-defined payouts for certain medical events, such as hospitalization, surgeries, or critical illnesses. The plan pays out a predetermined amount regardless of the actual medical expenses incurred. It offers simplicity and helps cover specific costs, but may not cover all healthcare expenses.

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